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Investments (Tables) | 9 Months Ended
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Sep. 30, 2018
Equity and Debt Securities and Cash Equivalents and Cost Method Investments in Decommissioning Trust Funds | Dominion Energy’s decommissioning trust funds are summarized below:
|  | Amortized Cost |  |  | Total Unrealized Gains |  |  | Total Unrealized Losses |  |  |  | Fair Value |
(millions) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
September 30, 2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Equity securities:(1) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. |  | $ | 1,710 |  |  | $ | 2,128 |  |  | $ | (10 | ) |  |  | $ | 3,828 |
Fixed income securities:(2) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate debt instruments |  |  | 438 |  |  |  | 6 |  |  |  | (7 | ) |  |  |  | 437 |
Government securities |  |  | 1,079 |  |  |  | 10 |  |  |  | (19 | ) |  |  |  | 1,070 |
Common/collective trust funds |  |  | 82 |  |  |  | — |  |  |  | — |  |  |  |  | 82 |
Cash equivalents and other(3) |  |  | 7 |  |  |  | — |  |  |  | — |  |  |  |  | 7 |
Total |  | $ | 3,316 |  |  | $ | 2,144 |  |  | $ | (36 | ) | (4) |  | $ | 5,424 |
December 31, 2017 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Equity securities:(2) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. |  | $ | 1,569 |  |  | $ | 1,857 |  |  | $ | — |  |  |  | $ | 3,426 |
Fixed income securities:(2) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate debt instruments |  |  | 430 |  |  |  | 15 |  |  |  | (1 | ) |  |  |  | 444 |
Government securities |  |  | 1,039 |  |  |  | 27 |  |  |  | (5 | ) |  |  |  | 1,061 |
Common/collective trust funds |  |  | 60 |  |  |  | — |  |  |  | — |  |  |  |  | 60 |
Cost method investments |  |  | 68 |  |  |  | — |  |  |  | — |  |  |  |  | 68 |
Cash equivalents and other(3) |  |  | 34 |  |  |  | — |  |  |  | — |  |  |  |  | 34 |
Total |  | $ | 3,200 |  |  | $ | 1,899 |  |  | $ | (6 | ) | (4) |  | $ | 5,093 |
| (1) | Effective January 2018, unrealized gains and losses on equity securities, including those previously classified as cost method investments, are included in other income and the nuclear decommissioning trust regulatory liability as discussed in Note 2.
| (2) | Unrealized gains and losses on equity securities (for 2017) and fixed income securities are included in AOCI and the nuclear decommissioning trust regulatory liability as discussed in Note 2.
| (3) | Includes pending sales of securities of $ — million and $5 million at September 30, 2018 and December 31, 2017, respectively.
| (4) | The fair value of securities in an unrealized loss position was $1.1 billion and $565 million at September 30, 2018 and December 31, 2017, respectively.
Unrealized Gain Loss on Equity | The portion of unrealized gains and losses that relates to equity securities held within Dominion Energy’s nuclear decommissioning trusts is summarized below:
(millions) |  | Three Months Ended September 30, 2018 |  |  | Nine Months Ended September 30, 2018 |
Net gains recognized during the period |  | $ | 243 |  |  | $ | 267 |
Less: Net gains recognized during the period on securities sold during the period |  |  | (7 | ) |  |  | (42 | )
Unrealized gains recognized during the period on securities still held at September 30, 2018(1) |  | $ | 236 |  |  | $ | 225 |
(1) | Included in other income and the nuclear decommissioning trust regulatory liability as discussed in Note 2.
Investments Classified by Contractual Maturity Date | The fair value of Dominion Energy’s debt securities with readily determinable fair values held in nuclear decommissioning trust funds at September 30, 2018 by contractual maturity is as follows:
|  | Amount |
(millions) |  |  |  |
Due in one year or less |  | $ | 199 |
Due after one year through five years |  |  | 344 |
Due after five years through ten years |  |  | 389 |
Due after ten years |  |  | 657 |
Total |  | $ | 1,589 |
Marketable Securities | Presented below is selected information regarding Dominion Energy’s equity and debt securities with readily determinable fair values held in nuclear decommissioning trust funds.
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2018 |  |  | 2017 |  |  | 2018 |  |  | 2017 |
(millions) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Proceeds from sales |  | $ | 457 |  |  | $ | 377 |  |  | $ | 1,301 |  |  | $ | 1,496 |
Realized gains(1) |  |  | 24 |  |  |  | 25 |  |  |  | 96 |  |  |  | 142 |
Realized losses(1) |  |  | 18 |  |  |  | 16 |  |  |  | 60 |  |  |  | 52 |
(1) | Includes realized gains and losses recorded to the nuclear decommissioning trust regulatory liability.
Other-Than-Temporary Impairment Losses | Dominion Energy recorded other-than-temporary impairment losses on investments held in nuclear decommissioning trust funds as follows:
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2018 |  |  | 2017 |  |  | 2018 |  |  | 2017 |
(millions) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total other-than-temporary impairment losses(1) |  | $ | 8 |  |  | $ | 7 |  |  | $ | 25 |  |  | $ | 33 |
Losses recorded to the nuclear decommissioning trust regulatory liability |  |  | — |  |  |  | (2 | ) |  |  | — |  |  |  | (13 | )
Losses recognized in other comprehensive income (before taxes) |  |  | (8 | ) |  |  | (1 | ) |  |  | (25 | ) |  |  | (2 | )
Net impairment losses recognized in earnings |  | $ | — |  |  | $ | 4 |  |  | $ | — |  |  | $ | 18 |
Virginia Electric and Power Company |
Equity and Debt Securities and Cash Equivalents and Cost Method Investments in Decommissioning Trust Funds | Virginia Power’s decommissioning trust funds are summarized below:
|  | Amortized Cost |  |  | Total Unrealized Gains |  |  | Total Unrealized Losses |  |  |  | Fair Value |
(millions) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
September 30, 2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Equity securities:(1) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. |  | $ | 842 |  |  | $ | 965 |  |  | $ | (6 | ) |  |  | $ | 1,801 |
Fixed income securities:(2) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate debt instruments |  |  | 220 |  |  |  | 2 |  |  |  | (4 | ) |  |  |  | 218 |
Government securities |  |  | 509 |  |  |  | 4 |  |  |  | (8 | ) |  |  |  | 505 |
Common/collective trust funds |  |  | 48 |  |  |  | — |  |  |  | — |  |  |  |  | 48 |
Cash equivalents and other(3) |  |  | 1 |  |  |  | — |  |  |  | — |  |  |  |  | 1 |
Total |  | $ | 1,620 |  |  | $ | 971 |  |  | $ | (18 | ) | (4) |  | $ | 2,573 |
December 31, 2017 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Equity securities:(2) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. |  | $ | 734 |  |  | $ | 831 |  |  | $ | — |  |  |  | $ | 1,565 |
Fixed income securities:(2) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate debt instruments |  |  | 216 |  |  |  | 8 |  |  |  | — |  |  |  |  | 224 |
Government securities |  |  | 482 |  |  |  | 13 |  |  |  | (2 | ) |  |  |  | 493 |
Common/collective trust funds |  |  | 27 |  |  |  | — |  |  |  | — |  |  |  |  | 27 |
Cost method investments |  |  | 68 |  |  |  | — |  |  |  | — |  |  |  |  | 68 |
Cash equivalents and other(3) |  |  | 22 |  |  |  | — |  |  |  | — |  |  |  |  | 22 |
Total |  | $ | 1,549 |  |  | $ | 852 |  |  | $ | (2 | ) | (4) |  | $ | 2,399 |
| (1) | Effective January 2018, unrealized gains and losses on equity securities, including those previously classified as cost method investments, are included in other income and the nuclear decommissioning trust regulatory liability as discussed in Note 2.
| (2) | Unrealized gains and losses on equity securities (for 2017) and fixed income securities are included in AOCI and the nuclear decommissioning trust regulatory liability as discussed in Note 2.
| (3) | Includes pending sales of securities of $1 million and $6 million at September 30, 2018 and December 31, 2017, respectively.
| (4) | The fair value of securities in an unrealized loss position was $539 million and $234 million at September 30, 2018 and December 31, 2017, respectively.
Unrealized Gain Loss on Equity | The portion of unrealized gains and losses that relates to equity securities held within Virginia Power’s nuclear decommissioning trusts is summarized below:
|  | Three Months Ended September 30, 2018 |  |  | Nine Months Ended September 30, 2018 |
(millions) |  |  |  |  |  |  |  |
Net gains recognized during the period |  | $ | 106 |  |  | $ | 118 |
Less: Net gains recognized during the period on securities sold during the period |  |  | (3 | ) |  |  | (26 | )
Unrealized gains recognized during the period on securities still held at September 30, 2018(1) |  | $ | 103 |  |  | $ | 92 |
| (1) | Included in other income and the nuclear decommissioning trust regulatory liability as discussed in Note 2.
Investments Classified by Contractual Maturity Date | The fair value of Virginia Power’s debt securities with readily determinable fair values held in nuclear decommissioning trust funds at September 30, 2018 by contractual maturity is as follows:
|  | Amount |
(millions) |  |  |  |
Due in one year or less |  | $ | 64 |
Due after one year through five years |  |  | 139 |
Due after five years through ten years |  |  | 221 |
Due after ten years |  |  | 347 |
Total |  | $ | 771 |
Marketable Securities | Presented below is selected information regarding Virginia Power’s equity and debt securities with readily determinable fair values held in nuclear decommissioning trust funds.
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2018 |  |  | 2017 |  |  | 2018 |  |  | 2017 |
(millions) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Proceeds from sales |  | $ | 237 |  |  | $ | 156 |  |  | $ | 651 |  |  | $ | 654 |
Realized gains(1) |  |  | 11 |  |  |  | 9 |  |  |  | 44 |  |  |  | 64 |
Realized losses(1) |  |  | 5 |  |  |  | 6 |  |  |  | 17 |  |  |  | 24 |
(1) | Includes realized gains and losses recorded to the nuclear decommissioning trust regulatory liability.

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